Father’s Day spending is expected to total a near-record $15.3 billion this year, according to a study released today by the National Retail Federation and Prosper Insights & Analytics. A total of 77 percent of Americans will celebrate Father’s Day and spend an average of $133 per person.
“We are pleased to see consumer confidence continue to rise, leading to another near-record holiday spend on Father’s Day,” NRF President and CEO Matthew Shay said. “Leading into the second half of the year, Americans are looking forward to treating their dads and retailers will be prepared to offer a variety of gift options that will create new memories on this special day.”
The expected spending would be second only to last year’s $15.5 billion, the highest in the 15-year history of the survey at an average $135 per person. Individuals between 25 and 34 years old will be the biggest spenders this year at an average $188 per person.